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Cantor, Tether, and SoftBank have announced the launch of a $3.6 billion venture focused on cryptocurrency. This significant investment highlights the growing interest and potential in the digital asset space, positioning the companies at the forefront of the evolving market.
MobiKwik has established a wholly owned non-banking financial company (NBFC) subsidiary, enhancing its financial services portfolio. This strategic move positions the company to expand its offerings and strengthen its presence in the fintech sector.
Saudi Arabia has emerged as the leading destination for venture capital in emerging markets, securing $391 million in funding in Q1 2025, a 53% increase from the previous year. The Kingdom accounted for 58% of total venture funding in the MENA region, driven by significant contributions from fintech, particularly a $160 million series E round for Tabby. This growth reflects decades of economic diversification efforts and a favorable regulatory environment, positioning Saudi Arabia as a resilient player in the global venture landscape.
The ePlane Company is seeking to raise up to $50 million in funding. This initiative reflects the company's ambition to expand its operations and enhance its technological offerings in the aviation sector. The move is part of a broader trend among startups aiming to secure significant investments for growth.
Akulaku reported a 50% drop in profits to US$4.5 million in 2024, despite a 14% revenue increase to US$53 million, as expenses surged by 30%. The company’s consumer financing receivables soared nearly 42 times to US$130.7 million, supported by a US$100 million debt commitment from HSBC Singapore. General and administrative costs accounted for a significant portion of expenses, while provisions for impairment losses rose by 49%, indicating potential challenges with non-performing loans.
Lloyds Bank has launched an applied intelligence platform to enhance its cloud migration for lending infrastructure, significantly improving data processing and analytics. This initiative has led to a 2.5% increase in credit card approvals and doubled new consumer loan customers, addressing limitations of its aging systems. The bank is also migrating key AI platforms to Google Cloud to further boost operational efficiency and customer service.
Chinese early-stage investment firm 01VC has announced the first close of a 500 million yuan (US$69 million) fund, focusing on early- to growth-stage investments in AI, robotics, and smart manufacturing. The fund, backed by state-owned capital and market-oriented entities, aims to enhance China's industrial digitalization and support local companies in international expansion. Founded in 2015, 01VC has previously managed five funds and invested in notable firms like Lalamove and Hai Robotics.
Digital wallets are set to become the dominant payment method in Hong Kong by 2030. This shift reflects a growing trend towards cashless transactions, driven by advancements in technology and changing consumer preferences. The future of payments in the region is poised for significant transformation.
Digital wallets are set to dominate Hong Kong's payment landscape by 2030, projected to account for 45% of online and 48% of in-store transactions, while credit card usage declines to 32%. AlipayHK leads the market with 42% share, amidst a diverse ecosystem of 17 e-wallet providers. The region's strategic cross-border payment initiatives further position it as a key financial hub in Asia-Pacific.
Moody’s has launched 35 AI-driven agents to enhance operations in the financial sector, reflecting a shift from cost-cutting to revenue growth in AI investments, projected to rise from $35 billion in 2023 to $126.4 billion by 2028. As regulatory frameworks mature, financial institutions are increasingly adopting generative AI, with a clear performance gap emerging between leaders and laggards in AI implementation.
Fintech Startups
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Cantor Tether and SoftBank unveil 3.6 billion dollar crypto venture
06:09 24.04.2025
MobiKwik launches wholly owned NBFC subsidiary to enhance financial services
15:15 23.04.2025
Saudi Arabia surpasses Singapore in venture capital funding growth
00:50 23.04.2025
ePlane Company seeks to raise up to 50 million dollars
15:42 22.04.2025
Akulaku reports 50 percent profit drop amid BNPL market slowdown
15:04 22.04.2025
lloyds bank enhances cloud migration with applied intelligence platform for lending
12:07 22.04.2025
China's 01VC launches 69 million dollar fund for AI and robotics expansion
16:50 21.04.2025
digital wallets expected to lead hong kong payment landscape by 2030
10:34 21.04.2025
digital wallets set to lead hong kong payments by 2030
09:50 21.04.2025
moody's launches 35 ai agents to transform financial services landscape
06:40 21.04.2025
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